ORG Partners LLC Has $852,000 Position in AbbVie Inc. (NYSE:ABBV)

ORG Partners LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 66.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,065 shares of the company's stock after selling 8,031 shares during the quarter. ORG Partners LLC's holdings in AbbVie were worth $852,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of AbbVie in the 4th quarter worth approximately $4,459,385,000. GAMMA Investing LLC grew its holdings in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of AbbVie during the fourth quarter worth $1,190,951,000. FMR LLC increased its stake in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 0.1%

Shares of ABBV stock opened at $185.26 on Friday. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock has a market cap of $327.24 billion, a price-to-earnings ratio of 78.83, a PEG ratio of 1.23 and a beta of 0.50. The firm's 50-day moving average is $184.98 and its 200-day moving average is $187.60. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the firm posted $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research reports. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Citigroup boosted their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company's stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

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